Asked by Corien Frazier on Apr 25, 2024
Verified
As a young man,my great-uncle ate 13 banana splits on a Saturday afternoon and never ate another one for the rest of his life.Most likely the utility of his last banana split was
A) positive.
B) zero.
C) negative.
D) greater than the utility of his 12th banana split.
Marginal Utility
The additional satisfaction or benefit received by a consumer from consuming one more unit of a good or service.
- Gain insight into the idea of marginal utility and how it affects total benefit.
Verified Answer
NK
nazira kassam8 days ago
Final Answer :
C
Explanation :
The concept of diminishing marginal utility suggests that as a person consumes more of a good, the satisfaction (utility) from consuming an additional unit decreases. In this case, after consuming such a large number of banana splits, it's likely that the utility of the last banana split was negative, leading to discomfort or a negative experience, which is why he never ate another one.
Learning Objectives
- Gain insight into the idea of marginal utility and how it affects total benefit.
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